Home Owners Cover
Home Owners’ Cover (HOC) is a collaboration between Mortgage Alliance and The Financial Centre (Pty) Limited. This product which is offered by the bank and accepted by the client, automatically attracts an annuity-based commission.
Features
- All major banks have individually designed products to cater for their clients’ needs.
- A reduced administration fee is levied against the home loan account.
- Premiums are debited to the bond to secure payment.
- Avoid unnecessary delays for additional quotes and bank approval.
- Automatic annual escalation is managed by the bank.
Benefits
- Simplicity: our business partners are simply required to select the bank’s own Home Owners’ Cover which is included in the initial quote.
- Convenience: minimal paperwork and administration and requires no third-party intervention.
- Financial reward: an annuity commission is paid on each policy, calculated as a percentage of the monthly premium and automatically increases on an annual basis as the premium increases.
Qualifying Criteria
- Available to all contracted members of Mortgage Alliance subject to predetermined minimum business levels and accuracy of data.